yep falemagn, you're right dosemu doesn't contain a x86 emulator. If you want to emulate an x86 on a PPC you should look for bochs
http://bochs.sourceforge.net. I know that it's working eg under morphos, so I don't think it would be to hard porting it for AmigaOS 4. You shouldn't expect too much from it's performance, but if you really need to use some old DOS application (and I guess that's what you intend to do, as you were talking about dosemu), it might be ok.
Frederik